With every piece of bullion you buy, you’ll always pay a premium for it. While it’s generally accepted that the more weight you buy for a single piece, the smaller the premium you pay. This means a full ounce of gold, silver, platinum and palladium will have a smaller premium over spot price than anything less than a full ounce.
Trying to determine what you’re considering buying becomes trickier when you get into different measurements. Some rounds and bars are listed as weight in grams instead of troy ounces. What may look like a good deal compared to another dealer may not actually be a cheaper premium.
To make it easier to compare potential purchases, here is a spreadsheet calculator that works in Microsoft Excel and Google Sheets.
Simply put in the spot price, the products you’re considering, account for grams (divide the gram weight by 31.1 to get a decimal fraction of one ounce of metal) and the spreadsheet will show you the premium percentage, or markup, on each piece.
The tool is completely free and you are welcome to share it with anyone you think may benefit from it. Click here to download the Bullion Price Comparison Tool